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PSX closes positive after adding 287.51 points

PSX closes positive after adding 287.51 points

KARACHI: The Pakistan Stock Exchange Wednesday closed positive after adding 287.51points to reach 44186.96 points level.

The stocks recorded the highest trading level of 44332.51 points and lowest level of 43781.57 points, with the volume of about 187.24 million shares and value of Rs10.32 billion. As many as 357 companies were active; of which 193 advanced, 140 declined and 15 remained unchanged.

Azgard Nine was the volume leader with 17.70 million shares, adding Rs0.28 to reach Rs16.87. It was followed by Aisha Steel Mill with 11.64 million shares, gaining Rs0.41 to end at Rs22.01 and TRG Pak Ltd with 8.55 million shares, surging Rs0.90 to close at Rs43.53.

The top three gainers were Philip Morris Pak with price per share of 2624.11 (66.06), Hinopak Motor with price per share of 1280 (52.49) and Murree Brewery of 864.80 (30.81).

The top three losers were Sanofi-Aventis with price per share of 1833.05 (-89.28), Rafhan Maize with price per share of 6950 (-80) and Wyeth Pak Ltd share of 2270 (-28).

Earlier, the PSX tried to recoup some previous losses in early trading and added 358 points to reach 44257 points level. The stocks became flat till midday and shed 2.86 points to drop to 43897 points level.

On Tuesday, the stocks witnessed another uninspiring session with a sharp decline in the KSE 100-index level. On account of political uncertainty and selling pressure from foreign investors, 100-index lost 1,389 points and closed at 43,899 points. Weak external account numbers and fear of rupee depreciation also remain a matter of concern for investors.

The top 5 contributors to index decline included OGDC (down 3.9%), ENGRO (4.3%), HBL (2.4%), MCB (4.3%) & HUBC (3.6%), contributing 322 points to index decline. Traded volumes were up 68% to 191m shares whereas traded value was up 51% to Rs9.1b/$86m. BOP from the banking sector led the volume with 12 million shares changing hands.